Maib, Moldova’s largest bank, has entered into a strategic collaboration with Mastercard to leverage artificial intelligence (AI) in enhancing the bank's operations and customer experience. Mastercard Advisors have already completed an initial diagnostic phase that assessed maib’s AI capabilities across data infrastructure, organizational processes, and AI governance. Based on these insights, the collaboration will focus on implementing AI-driven initiatives that are expected to reshape digital banking in Moldova, improve operational efficiency, and ensure sustainable growth.
Where will this project be used
The AI strategy project will be applied across various sectors of maib’s business, including Retail, SME finance, marketing, and IT. The AI-driven initiatives are designed to increase customer personalization, optimize cost-efficiency, and enhance risk management processes. As part of the next steps, maib will implement a comprehensive AI roadmap that will guide the bank towards a fully digital banking model, focusing on responsible AI use and operational excellence.
Maib’s digitalization efforts
The bank’s digital front has undergone many upgrades throughout the years, allowing customers more and more flexibility in how they approach banking. Modelled after international leaders, the mobile app, maibank, has in the second half of 2024 amassed over 676 thousand users. In 2023, digital onboarding was integrated into the app, now letting Moldovan citizens open a bank account from the comfort of their own home. For such efforts, maib was recently named the best digital bank in the region by EMEA Finance. The AI strategy project is a logical next step in the continuation of maib's fully digital banking experience.
Irina Untila, Country Manager at Mastercard Moldova, said:
„Mastercard has been leveraging AI for years, integrating it, in particular, into many of our fraud detection solutions. With our deep industry knowledge and extensive global expertise, we are excited and proud to partner with maib on their AI journey, helping them unlock the opportunities AI can offer to enhance operational efficiency and deliver value-driven services to customers."
Giorgi Shagidze, maib CEO, said:
"I would like to thank our valued partner Mastercard and maib teams that worked on this initiative. Our collaboration with Mastercard aligns perfectly with maib’s vision to innovate and grow our digital offering. The diagnostic results have equipped us with valuable insights to improve agility and enhance customer experiences across all our banking products. We remain committed to ensuring that AI is responsibly integrated into our operations, driving both operational efficiency and service excellence. At maib we innovate to ensure that our customers receive the best possible banking services."
Aliona Stratan, maib First Deputy CEO in charge of Retail and Digital, said:
"This AI journey is not just about adopting technology, it's about creating a culture of innovation within maib. The insights from Mastercard Advisors will empower us to deliver more personalized experiences to our customers, while ensuring our operations are more agile and resilient. We thank Mastercard for their groundbreaking work"
About maib
Maib is the largest bank in Moldova, with a share of 36.1% of deposits and 38.0% of loans of the entire banking system at the end of 2Q 2024. Maib is a disciplined lender with NPL ratio of 1.9% and is well capitalised with CAR of 22.2% as of 30 June 2024. The Bank is of systemic importance to the country, it serves almost a third of the population and is one of the largest private employers in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States, and Horizon Capital, a private investment fund focused on emerging markets.
